tr1 Posted March 25, 2008 Share Posted March 25, 2008 Question: How did Jerruh pay for this land? I suspect it wasn't cash. I'd say it was likely an in-kind payment of some sort...possible stock in the pukes or real estate. Now, please, someone tell me he paid cash. And if he did, why didn't he use that cash to re-structure and create cap? Answer: Jerruh doesn't have any cash. By Andrea Ahles aahles@star-telegram.com http://www.star-telegram.com/business/story/546491.html A firm owned by Dallas Cowboys executive Jud Heflin has sold more than a dozen parcels that are within walking distance to the new Arlington football stadium to Cowboys owner Jerry Jones. Heflin, who was involved in the negotiations to bring the Cowboys to Arlington, began purchasing the land on Randol Mill Road, Web and Slaughter streets in fall 2006. At the time, Heflin said he bought several single-family homes and the former Bethel Baptist church site as investment properties and that the purchases were not affiliated with the Cowboys. Deed records filed with Tarrant County, dated February 28, show Heflin’s land was sold to 183 Land Corporation, a firm headed by the Jones family. Financial details of the land sale were not disclosed on the records. The land, which totals over 10 acres, could be used for parking for the Cowboys stadium; the team has said it will use privately operated parking lots to supplement its own lots. The stadium, currently under construction on the southeast corner of Randol Mill Road and Collins Street, is scheduled to open in 2009. Link to comment Share on other sites More sharing options...
kvarlo12000 Posted March 26, 2008 Share Posted March 26, 2008 who cares. he has money don't worry, but what does this have to do with anything. Link to comment Share on other sites More sharing options...
skinsn24 Posted March 26, 2008 Share Posted March 26, 2008 You dont use cash to pay for 100% of real estate projects, it doesnt make business sense. This issue has been beat to death. Read a textbook about real estate, finance, and interest. Link to comment Share on other sites More sharing options...
dwdj75 Posted March 26, 2008 Share Posted March 26, 2008 Who pays cash on anything anymore ? Link to comment Share on other sites More sharing options...
BigDFan5 Posted March 26, 2008 Share Posted March 26, 2008 LMAO maybe he got it for free? No way money was involved As for cap we have room to sign our rookies why do we need more than that? If we need more we will make it. No need to make room now Link to comment Share on other sites More sharing options...
VCDefectors Posted March 26, 2008 Share Posted March 26, 2008 For tr1, I heard that this is one of these "investment firms" that Jerry Jones went to in order to drum up some cash: Link to comment Share on other sites More sharing options...
tr1 Posted March 26, 2008 Author Share Posted March 26, 2008 Keep dancing fellas. Jerruh 'continues to spend freely' on EVERYTHING but to improve your team. Haven't you noticed that yet? Link to comment Share on other sites More sharing options...
tr1 Posted March 26, 2008 Author Share Posted March 26, 2008 Cowboys buy tracts for more stadium parking By ANDREA AHLES http://www.star-telegram.com/330/story/547271.html The former site of Bethel Baptist Church is one of the properties bought by the Cowboys from team executive Jud Heflin. The land, west of the stadium, will be used for parking. The Dallas Cowboys have added another parking lot for the $1.1 billion stadium under construction in Arlington. The team's owner, Jerry Jones, has purchased more than a dozen parcels within walking distance of the stadium. The seller is Cowboys executive Jud Heflin. Heflin, who was involved in the negotiations to bring the Cowboys to Arlington, began buying land on Randol Mill Road and Web and Slaughter streets in fall 2006. At the time, Heflin said that he bought several single-family homes and the former Bethel Baptist Church site as investments and that the purchases weren't affiliated with the Cowboys. Deed records filed with Tarrant County and dated Feb. 28 show that Heflin sold the land, totaling more than 10 acres, to 183 Land Corp., a firm headed by the Jones family. Cowboys spokesman Brett Daniels confirmed the purchase but didn't release financial details. "The land has been transferred, and our plan is to operate it as stadium parking lot," Daniels said. According to the Tarrant Appraisal District, the land was valued at $3,567,983 in 2007. Tax records show that Heflin has paid $86,705.67 in property tax for it. However, he still owes $2,274.30 for three pieces of land included in the deal, the Tarrant County tax Web site says. Daniels would not comment on whether the team would petition the city to include the new parking lot as part of the stadium project. If the city agrees to include it, Arlington would no longer collect taxes on those properties because the stadium is owned by the city and leased to the team. Trey Yelverton, deputy city manager, said the city hasn't received a formal request to add the property to the stadium project. If the Cowboys request it, the City Council would have the final say. "It would have to be a City Council decision to determine if they want to accept any new property into the venue that had been acquired outside from what we've been focused on," Yelverton said. The stadium, under construction on the southeast corner of Randol Mill Road and Collins Street, is scheduled to open in 2009. The city's portion of the stadium is capped at $325 million, and the Cowboys have agreed to pay for cost overruns. CLUB-SEAT SALES BEGIN Dallas Cowboys fans who paid $100 to be placed on a waiting list for tickets in the new stadium last December will have their chance to buy club seats this week. The team announced that it was opening up club seating to waiting-list fans who indicated that they were interested in buying premier seats. Cowboys spokesman Brett Daniels said letters were sent this week, inviting fans to schedule appointments with Cowboys salespeople. Season-ticket holders still interested in club seats can make appointments at the Cowboys marketing center, adjacent to the stadium construction site, Daniels said. Link to comment Share on other sites More sharing options...
skinsn24 Posted March 26, 2008 Share Posted March 26, 2008 Wait tr1, You mean to tell me that Jerry is BUYING more property right now??? Just a week ago i thought he was broke and had nothing left and had no way to spend money. Link to comment Share on other sites More sharing options...
BigMike619 Posted March 26, 2008 Share Posted March 26, 2008 Wait tr1,You mean to tell me that Jerry is BUYING more property right now??? Just a week ago i thought he was broke and had nothing left and had no way to spend money. Is that really a serious question? I know you dont believe that he can't get credit to buy that land. You dont outright pay for a house when you buy it do you? He has credit up the wazoo but that doesnt mean he has the cash to pay for it. Link to comment Share on other sites More sharing options...
TonyRomoProBowl Posted March 26, 2008 Share Posted March 26, 2008 Is that really a serious question?I know you dont believe that he can't get credit to buy that land. You dont outright pay for a house when you buy it do you? He has credit up the wazoo but that doesnt mean he has the cash to pay for it. :doh: please make it stop :doh: Link to comment Share on other sites More sharing options...
BigMike619 Posted March 26, 2008 Share Posted March 26, 2008 :doh:please make it stop :doh: hey man, dont get all stupid now. I was just answering his question. I didnt say he was broke or he had no money. I was stating that even IF he didnt have money people would still lend it to him on credit. Get over yourself man, you guys are too defensive. Link to comment Share on other sites More sharing options...
TonyRomoProBowl Posted March 26, 2008 Share Posted March 26, 2008 hey man, dont get all stupid now.I was just answering his question. I didnt say he was broke or he had no money. I was stating that even IF he didnt have money people would still lend it to him on credit. Get over yourself man, you guys are too defensive. whats with the name calling man...........Geez, I think we all covered the JJ is broke threads....thats all i am saying, no need to be belligerant!!! Link to comment Share on other sites More sharing options...
BigMike619 Posted March 26, 2008 Share Posted March 26, 2008 whats with the name calling man...........Geez, I think we all covered the JJ is broke threads....thats all i am saying, no need to be belligerant!!! I said DONT get all..I didnt say you were. But I am calling you defensive..which is apparent you are being. This isnt the JJ is broke thread and I am not saying he is. Dude asked a question and I answered it. Link to comment Share on other sites More sharing options...
flashback Posted March 26, 2008 Share Posted March 26, 2008 JJ is buying property. More proof that he has all his assets tied up in the new stadium and can't sell any seats. Link to comment Share on other sites More sharing options...
Peregrine Posted March 26, 2008 Share Posted March 26, 2008 Seriously, who uses cash to finance real estate? What strange world do you live in tr1? BTW, I hope you people also realize that it makes little sense for any real estate investor (such as JJ "Give me that headset" Jones) to sell his real estate to generate cash he doesnt need. The amount of capital gains taxes he saves by re-investing any of the money he generates from land sales(such as the 300 million somewhat recently) is astronomical. Further, considering in real estate you can leverage using 10% of your money, why pay all cash and have one 300 million dollar investment then put only 10% down and have ten 300 million dollar investments? Link to comment Share on other sites More sharing options...
flashback Posted March 26, 2008 Share Posted March 26, 2008 Seriously, who uses cash to finance real estate? What strange world do you live in tr1?BTW, I hope you people also realize that it makes little sense for any real estate investor (such as JJ "Give me that headset" Jones) to sell his real estate to generate cash he doesnt need. The amount of capital gains taxes he saves by re-investing any of the money he generates from land sales(such as the 300 million somewhat recently) is astronomical. Further, considering in real estate you can leverage using 10% of your money, why pay all cash and have one 300 million dollar investment then put only 10% down and have ten 300 million dollar investments? I'm sure that all makes sense to someone smarter than me, but how do you explain JJ not resigning Julius Jones, and franchising Ken Hamlin, and not extending Marion Barber's contract, and not signing Bernard Berrian, and not signing Asante Samuel, and not making a big offer to Ryan Boschetti? Its all good and well to say that he doesn't have to have all his cash or "liquidity" (whatever the hell that is) tied up in the new stadium, but you can't prove that isn't signing all these free agents because he has a talented roster that won 13 games last year and sent 13 players to the Pro Bowl and have 2 first round draft picks. Jerk. :mad: Link to comment Share on other sites More sharing options...
skinsn24 Posted March 26, 2008 Share Posted March 26, 2008 Is that really a serious question?I know you dont believe that he can't get credit to buy that land. You dont outright pay for a house when you buy it do you? He has credit up the wazoo but that doesnt mean he has the cash to pay for it. You must have missed like everyone of my posts. Link to comment Share on other sites More sharing options...
BigMike619 Posted March 26, 2008 Share Posted March 26, 2008 You must have missed like everyone of my posts. You mean your ONE other post in this thread that was more of an insult to tr1 instead of something positive to say? yeah, I try to avoid those posts. But after reading it, it does appear you get the idea. But maybe you got the idea when you went back and edited it. I dont know nor care, I was just trying to help you out because I didnt know if you honestly knew or not. Link to comment Share on other sites More sharing options...
Heidenreich Posted March 26, 2008 Share Posted March 26, 2008 This might be the stupidest argument I've ever seen...... Link to comment Share on other sites More sharing options...
skinsn24 Posted March 26, 2008 Share Posted March 26, 2008 You mean your ONE other post in this thread that was more of an insult to tr1 instead of something positive to say?yeah, I try to avoid those posts. But after reading it, it does appear you get the idea. But maybe you got the idea when you went back and edited it. I dont know nor care, I was just trying to help you out because I didnt know if you honestly knew or not. Comeon guy I know you were in other JJ is broke threads. I essentially explained the borrowing process for all to see. and what in the world does this mean: But maybe you got the idea when you went back and edited it. My posts in this thread were both edited just 1 minute after i posted (for spelling) well before you posted anything. :whoknows: breathe. Link to comment Share on other sites More sharing options...
tryfuhl Posted March 26, 2008 Share Posted March 26, 2008 whats with the name calling man...........Geez, I think we all covered the JJ is broke threads....thats all i am saying, no need to be belligerant!!! www.cowboyszone.com Link to comment Share on other sites More sharing options...
BigMike619 Posted March 26, 2008 Share Posted March 26, 2008 Comeon guyI know you were in other JJ is broke threads. I essentially explained the borrowing process for all to see. and what in the world does this mean: My posts in this thread were both edited just 1 minute after i posted (for spelling) well before you posted anything. :whoknows: breathe. so you think I should have paid attention to you in some thread that was at least a week ago and remember it? Wow, you are important huh..:laugh: I will breathe if you tone down the ego a little bit bro. I dont even remember the last thing that I put in that thread was.. Link to comment Share on other sites More sharing options...
Veretax Posted March 26, 2008 Share Posted March 26, 2008 when I read that subject line I thought he was selling land to pacman. I was like aw crap..... glad I was wrong Link to comment Share on other sites More sharing options...
skinsn24 Posted March 26, 2008 Share Posted March 26, 2008 so you think I should have paid attention to you in some thread that was at least a week ago and remember it? Wow, you are important huh..:laugh: I will breathe if you tone down the ego a little bit bro. I dont even remember the last thing that I put in that thread was.. LOL. The entire thread we about me and few others commenting on the real estate process. Sorry for assuming people in the thread, actually read the thread. There was one yesterday as well. I think everyone on this board knows my opinion of how real estate deals are financed. Again i ask what you meant by that "editing" comment. Doesnt make much sense to me. Link to comment Share on other sites More sharing options...
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